Invinity Energy Systems Plc · LSE:IES
Invinity Energy Systems — redT energy — FY2015 Earnings Presentation
21 slides from Invinity Energy Systems's earnings presentation, Apr 26, 2016
Slide 1: 2015 Final Results Presentation
2015 Final Results Presentation Scott McGregor, Chief Executive Officer Scott Laird, Finance Director 26th April 2016
Slide 2: 2015 Highlights
2015 Highlights redT • Successful roll-in of minority interests in REDH with the Company now owning 99.7% • First Gen 1 manufactured market seeding unit delivered and installed • Continuation of market seeding programme – 7 unit placements announced in locations from UK to Africa • Parallel developm
Slide 3: Sustainable Equity Value
Sustainable Equity Value Sustain Scale Firm Functional Gen 3 performing Price team Prove Gen 2 sales Market Seeding Differentiating programme IP (leading tech), complete Orderbook product, service. across defined products USP Credibility Gen 1 design Case-studies Gen 2 Ambassadors system delivered S
Slide 4: Market Seeding Program
Market Seeding Program Objectives: UK • Customer showcase small, medium and Isle of Gigha large systems 1.68 MWh 40kWh Development Wind + Grid constraint Centre • Test new manufactured product 40kWh Dairy PV + Grid 40KWh Wind + Grid • Test new supplier quality Ireland 40kWh Utility trial • Integrate
Slide 5: Generation 2 Product
Generation 2 Product • Engineering office established in Livingston • Design complete for stack, tanks, fluids and casing • Incorporated learnings from Generation One product • Cost targets for key parts. • Ordered long lead supply parts • Products 5-20kWH and 60-300kWh • Outcome enhanced functional
Slide 6: Market Opportunity
Market Opportunity Grid-tied storage estimated to be 160GW $10bn p.a., by 2030 • Small grid tied renewables • Large grid tied renewables • Distributed generation • Grid utility • Key markets EU, USA, China, Japan • Connected smart power grid would required energy storage worth $100-$150bn (larger th
Slide 7: FY 2015 Financials
FY 2015 Financials AredT energy storage
Slide 8: 2015 Financial Highlights
2015 Financial Highlights • Profit for the year €0.7m (2014: loss €2.2m) • Net gain on disposal of US biogas assets €2.0m • Acquisition of REDH business resulting in net €2.0m gain on original investment • Revenue for the year €11.1m (2014: €5.6m) • €7.5m in available cash as of 31 March 2016 • Loan
Slide 9: Income Statement
Income Statement Consolidated statement of comprehensive income For the year ended 31 December 2015 Restated 2015 2014 €'000 €'000 Continuing operations Revenue 11,106 5,569 Cost of sales (6,267) (3,194) Gross profit 4,839 2,375 Other income - 84 Administrative expenses (6,340) (5,152) Loss from ope
Slide 10: Balance Sheet
Balance Sheet Consolidated statement of financial position At 31 December 2015 2015 2014 2015 2014 €'000 €'000 €'000 €'000 Non-current assets Equity attributable to equity holders of the parent Property, plant and equipment 101 16,613 Share capital 4,098 2,461 Goodwill 8,167 - Share premium 85,375 7
Slide 11: Cash Flow
Cash Flow Consolidated statement of cash flow for the year ended 31 December 2015 2015 2014 2015 2014 €'000 €'000 €'000 €'000 Cash flows from operating activities Cash flows from investing activities Profit for the year 670 (2,183) Proceeds from disposal of a discontinued ops. 731 - Acquisition of a
Slide 12: Segmental Analysis
Segmental Analysis Operating segments For the year ended 31 December 2015 US Africa REDT Group (Other) Consolidated Restated Restated Restated Restated Restated 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 €’000 €’000 €’000 €’000 €’000 €’000 €’000 €’000 €’000 €’000 Segment revenue 4,812 1,979 1
Slide 13: Commentary
Commentary US > Activity from continuing operations based on management and sale of Californian Carbon Offsets (CCOs), culminating in rights assignment to major multinational corporation for €2.3m > Outlook focused on the management of the disposed biogas assets for which business was awarded a serv
Slide 14: Conclusions
Conclusions ee AredT energy storage
Slide 15: Conclusion
Conclusion redT • Market seeding programme progressing (Gen 1) • Design and engineering process for Gen 2 underway • Strong customer demand for proven, low cost model US • Disposal of US assets (biogas & carbon), generating cash investment Africa • Growth within investment advisory business • Additi
Slide 16: Appendix
Appendix OredT
Slide 17: Appendix 1: Liquid Energy Storage
Appendix 1: Liquid Energy Storage • Conventional batteries have fixed power and energy locked together in the cell • Flow battery uses liquid electrolyte contained outside the cell and pumped through it – like a car engine and fuel tank • Liberates energy from power component allowing long duration
Slide 18: Storage market place - very different uses & products
Storage market place - very different uses & products Power Mature 1 GW Deployment Demonstration Grid Storage 100 MW Lithium-Ion Grid Pumped-hydro/CAES Balancing T&D Upgrade 10 MW Ancillary Services Deferral Frequency response Congestion Relief STOR Avoided Curtailment Lead-Acid Duration 1 MW Commer
Slide 19: Appendix 2: The Stack
Appendix 2: The Stack • Electrolyte pumped through 40 cells in series to give 48V output • Energy remains in liquid electrolyte – avoids imperfectly reversible transition from liquid to solid that reduces capacity of conventional batteries • All vanadium chemistry avoids contamination issues • Prove
Slide 20: Appendix 3: Benefits of VRFB Storage
Appendix 3: Benefits of VRFB Storage Flow batteries: Conventional batteries: • Decouple power from duration – size to your needs • Short life expectancy • Deep discharge – use the full capacity • Need to oversize as DoD limited • Long life – match to your renewables • High labour cost of change outs
Slide 21: Appendix 4: Applications
Appendix 4: Applications A key problem in supplying renewable Grid networks are less reliable with energy to the grid is the mismatch intermittent power from renewables. between availability and demand. Efficient and low cost storage can provide Storage coupled with renewable balanced base load powe